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FRIDAY, NOVEMBER 27, 2009
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NEWS ABOUT: economy

economy stories: 467 news summaries

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 Bush Knocks 
 Obama Policies 

Says private sector is solution to economic problems

Jun 18, 09 12:38 PM CDT
(Newser) - George W. Bush is apparently done holding his tongue. He criticized several of President Obama's major policy issues in a speech yesterday, defending his administration on interrogation, assailing nationalized health care, and saying the private sector, not the government, was key to fixing the economy, the Washington Times reports. “... More »

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Guantanamo Bay • recession • health care reform • private sector • economy • George W. Bush • President Obama

(Newser) - “Anti-business may be too crude a label” for President Obama, Fred Barnes writes in the Weekly Standard, but America's leader certainly "has a dark view of profits." Surveying Obama's appointments, policies, and remarks about business, Barnes concludes that "Obama loathes the profit motive or at... More »

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business • recession • economy • Obama administration • President Obama • economic downturn • Fred Barnes • anti-business

 Report Seeks More 
 Bank Stress Tests 

First round may have underestimated unemployment

Jun 9, 09 8:52 AM CDT
(Newser) - The US should run a second round of bank stress tests if it turns out the government was overly optimistic about the economy in the first round, says a report to be presented to Congress today. The Congressional Oversight Panel, which monitors the bailout, applauded the tests thus far, but... More »

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Congress • recession • bank • unemployment • economy • report • stress tests • Elizabeth Warren

(AP) - The unemployment rate jumped to 9.4% in May, the highest in more than 25 years. But the furious pace of layoffs eased, with employers cutting 345,000 jobs, the fewest since September. If laid off workers who have given up looking for new jobs or have settled for part-time... More »

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recession • unemployment • Department of Labor • jobless claims • economy

Bernanke Sees Slow Recovery, Despite Positive Signs

Still hopes economy will grow by year's end

Jun 3, 09 10:40 AM CDT
(Newser) - The US has a long way to go before the economy returns to full health, despite hopeful signs, Ben Bernanke told the House budget committee today. “Recovery will only gradually gain momentum and that economic slack will diminish slowly,” the Fed chairman said. With businesses cautious, “the... More »

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Congress • Ben Bernanke • Federal Reserve • House of Representatives • recession • recovery • House Budget Committee • economy

New Budget Airline Launches With 1 Plane, $9 Seats

First few seats are $9; all extras will cost you

May 27, 09 9:44 AM CDT
(Newser) - The founder of the short-lived discount airline Skybus thinks conditions are right for a second attempt at adding service to less-used regional airports, the Chicago Tribune reports. JetAmerica will follow the model of European budget carriers like Ryanair, offering a handful of seats for $9 and charging for services like... More »

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airline industry • Skybus airlines • business • budget airlines • airline ticket prices • Toledo, Ohio • economy • JetAmerica • Melbourne, Fla. • John Weikle

 Recession Pushes African 
 Immigrants to Head Home 

Many opt for slower, cheaper lifestyle

May 26, 09 6:48 AM CDT
(Newser) - The US recession is driving many middle-class African immigrants home, where life is slower and growth has lately pointed to a bright economic future, the Washington Post reports. Diaspora societies of immigrants say many members are planning to return to Nigeria, Kenya, and Ghana.“The people I know here... More »

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Africa • Kenya • Nigeria • recession • immigrant • Ghana • economy • sub-Saharan Africa

 In Recession, 
 Sales of Sex 
 Toys Boom 

People have 'more time on their hands'

May 21, 09 8:20 AM CDT
(Newser) - The recession is good news for at least one retail segment: Sales of so-called sexual enhancement devices are through the roof, Advertising Age reports. Lubricant sales jumped 32% in the first quarter, and sales of “marital aids” sold in food, drug, and mass-market stores have soared 74%. “When... More »

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marketing • recession • sales • sex toys • personal lubricant • economy • financial crisis • sexual enhancement

(Newser) - In this tough economy, requests for long-term contraceptives and abortions have spiked at family planning clinics, reports the Los Angeles Times. Planned Parenthood of LA County has seen its caseload jump 15% in just a year, and requests for IUDs nearly doubled in the first quarter compared to a year... More »

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reproductive rights • abortion • contraception • Planned Parenthood • birth control • contraceptive • economy • family planning • intrauterine device • IUD

Backward 'Brain Drain' Calls Indians Home From US

Economy exerts pull on well-educated thirtysomethings

May 19, 09 2:10 PM CDT
(Newser) - While much of the world suffers economic meltdown, India’s economy is comparatively healthy—and that may be reversing a longstanding “brain drain” of Indians to American shores, Sandip Roy reports for NPR. “It’s the hottest topic at potluck dinners all over Silicon Valley—which friend or... More »

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Silicon Valley • India • culture • reverse brain drain • brain drain • economy

AmEx to Ax 4K Jobs in $800M Chop 

Cuts are in addition
to 7K workers laid
off last fall

May 18, 09 5:48 PM CDT
(Newser) - American Express said today it plans to slash 4,000 jobs as part of an $800 million cost-cutting plan, CNNMoney reports. The cuts are in addition to 7,000 workers slated last fall to be laid off. Amex also plans to reduce operating costs and investment spending. The company "... More »

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employment • recession • American Express • job cuts • economy

(Newser) - Overpaid maestros had better accept slimmer paychecks before America's great orchestras sink into silence, John von Rhein writes in the Chicago Tribune. With the Great Recession raging and musicians accepting pay cuts, big-name conductors like Lorin Maazel and James Levine still rake in millions. Welcome to "the dirty little... More »

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bankruptcy • recession • salary • economy • orchestra • pay cut • Jay-ZTV

US Immigration Slows, Delaying Minorities' Rise

Won't form majority
until 2050s; security, economy take toll

May 14, 09 9:14 AM CDT
(Newser) - Immigration laws and the recession have slowed the growth of America’s immigrant populations, delaying the date when minorities will become the majority by as much as 10 years, the AP reports. Estimates had pointed to 2042, but it now could be another decade as growth slowed from 4% in... More »

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immigration • immigration reform • minority • illegal immigration • Latinos • housing bubble • economy • Asian immigrants

Iraq, Economy Stalling,
May Be Broke by Next Year

Drop in oil price has gutted nation's income

May 11, 09 12:46 PM CDT
(Newser) - Some people thought Iraq wouldn't be affected by the worldwide economic downturn, says an Iraqi economist. "Those people were stupid." At the very least, they were wrong: Sales of consumer goods are in the basement, along with real estate, and the unemployment rate hovers around 25%. Surpluses from... More »

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Iraq • Nouri al-Maliki • Iraq economy • unemployment • Iraq security • economy • economic downturn • Jay-ZTV

(Newser) - Wall Street and Washington financial gurus may be seeing “green shoots” of economic recovery, but small businesses are still stuck in the mud, Kevin Kelly writes in Newsweek. Kelly, the CEO of a bag manufacturing company, says too many colleagues' businesses are losing sales, laying off workers, or shutting... More »

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debt • recession • recovery • investment • small business • economy • Jay-ZTV

(Newser) - Our long national nightmare could soon be over: Top economic forecasters expect the recession to end by the second half of this year, Reuters reports. In a new survey, experts predict the GDP will shrink by 2.8% this year but edge up 1.9% in 2010. Even so, economists... More »

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growth • recession • unemployment • economist • GDP • economy

Glossies

In Recession, Sewage Tour, Offbeat Destinations Thrive

Offbeat local museums, tours see record demand

May 10, 09 1:12 PM CDT
(Newser) - With fancy island getaways now out of most people's price range, alternative attractions are gaining ground, Newsweek reports. Local families have begun flocking to Louisiana's oil rig museum, San Francisco's sewage-plant tour, and Ireland's Famine Museum, perhaps in a spirit of "things are bad, but at least they're not... More »

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prison • tourism • museum • oil rig • economy • sewage plant

Experts Fret as Americans Squirrel Away Income

Savings rate jumps over job, portfolio fears

May 9, 09 2:46 PM CDT
(Newser) - Even after the economy rebounds, the US will likely remain a nation of penny pinchers—and that has economists worried, the New York Times reports. Consumer spending accounts for 70% of the country’s GDP, but Americans, fretting over job security and losses in the housing and stock sectors, are... More »

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consumer • recession • consumer spending • GDP • savings • economy • thrift

 Layoffs Slow as Unemployment 
 Hits 8.9%, Worst Since '83 

539K positions cut; jobless rate hits 8.9%, highest since 1983

May 8, 09 8:45 AM CDT
(AP) - The pace of layoffs slowed in April when US employers cut 539,000 jobs, the fewest in 6 months; economists had expected 620,000 job cuts. But the unemployment rate climbed to 8.9%, the highest since late 1983, as many businesses remain wary of hiring in a climate of... More »

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layoffs • unemployment • unemployment benefits • job cuts • economy

 Bargain Brewskies 
 Buoy Breweries 

Cheap beer sales are rising faster than pricier options

May 7, 09 5:43 AM CDT
(Newser) - Cheap brews are giving breweries just the boost they need during tough times, reports the Wall Street Journal. Economy suds such as Busch, Miller High Life, and Pabst Blue Ribbon are rising faster than the nation's overall beer sales and helping companies weather the economic storm. A short time ago,... More »

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beer • brewery • Busch beer • Anheuser-Busch • economy • drinkers • fiscal crisis • Pabst Blue Ribbon • Miller High Life • Miller-Coors

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